Contracting labour: Firms hire fewer hands

By: |
November 23, 2020 6:15 AM

The headcount moved from 6.16 million in FY18 to 6.42 million in FY19 and 6.54 million in FY20; IT and banking account for 40% of the workforce.

CARE believes the lockdown would have led to significant rationalisation and that the addition of employees in FY21 could be slower than in FY20.CARE believes the lockdown would have led to significant rationalisation and that the addition of employees in FY21 could be slower than in FY20.

There has been a distinct slowing in the addition to the employee base (excluding outsourced labour) from 4.1% in FY19 to 2% in FY20, for a sample of 1,703 companies.

The headcount moved from 6.16 million in FY18 to 6.42 million in FY19 and 6.54 million in FY20; IT and banking account for 40% of the workforce.

CARE believes the lockdown would have led to significant rationalisation and that the addition of employees in FY21 could be slower than in FY20.

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